How Much Does It Cost to Live In Hong Kong?
The Hong Kong city is the capital of the Hong Kong country and the largest city in the state.
This place is a paradise for those who love shopping, nightlife, traditional foods, and festive life.
Low prices for food, transportation, and utilities make this place a must-see destination among tourists.
The country and the city has the largest number of skyscrapers in the world, but there is still no place to live for many people.
Most of the important administrative buildings, banks, and historical monuments can be found on the Hong Kong island.
Hong Kong : Cost of Living by City
RESTAURANTS
The products in the kitchens of the Hong Kong restaurants are fresh and cheap and meeting the requirements of the most demanding gourmet.
The prices are affordable: a cup of cappuccino costs $4.59, the price which is almost equal to the price of a combo meal in McDonald’s or similar ($4.46).
The Hong Kong Park and the fast food restaurants are for those who have budget limitations.
MARKETS
Hong Kong city has everything for sale in the markets.
The markets are divided by products they sell, from flower stalls to meat and fish rows to ancient things and books.
Local cheese and wine are very expensive here, $18.88 per kilo and $15.29 per mid-range wine.
Beef round is even more expensive, about $20 per kilogram.
TRANSPORTATION
The Hong Kong city provides for the best and the most modern means of transport like metro, ferry, mid-level escalators, rented cars, taxis, funicular, bus, and tram.
The locals are getting more and more sportive so cycling takes a dominant role here.
The prices for a monthly pass are a little more expensive than in most of the cities of the Hong Kong country.
UTILITIES (MONTHLY)
Monthly utility bills do not often exceed the figure of $199.39 when talking about average indicators.
The Internet and mobile connection are very cheap for most large cities.
if you are one of those lucky men who receive an average salary or much more than that, then the utility bills might not be an issue to at all.
SPORTS & LEISURE
Hong Kong offers a great choice for outdoor and indoor activities to keep your body fit and the soul happy.
The Chinese people are fit and strong, they invite everyone to do sports and spend free time with benefit.
The locals practice yoga, running, acrobatics, or just exercise in the nearest park.
CLOTHING & SHOES
Hong Kong has more than 45 local brands and this is a really great choice to buy local things which will make your style unique.
That’s what many natives say of their shopping preferences.
The prices in the chain stores that you are accustomed to like Zara, H&M, Nike or similar are selling clothes and shoes at low prices.
RENT PER MONTH
Hong Kong is a very expensive city in terms of apartment rental.
Hong Kong is developing vertically because there is no space to build houses, so you should be ready to live high in the skies.
Apartments with the sea view and on the higher floors are more expensive than mountain view or lower floors.
Cost of Living Averages Table for Hong Kong
*Note: All prices are indicated in USD.| Average Restaurant Prices | |
|---|---|
| Meal (Inexpensive Restaurant) | $6.37 |
| Domestic Beer (0.5 Liter) | $6.37 |
| Water (0.33 Liter) | $0.96 | Average Market Prices |
| Milk (1 Liter) | $2.86 |
| Loaf Bread (500g) | $2.35 |
| Eggs (12) | $3.24 | Average Transport Prices |
| One Way Ticket | $1.27 |
| Monthly Pass | $63.70 |
| Gasoline | $2.02 | Average Utilities Prices |
| Basic (Water, Electricity, Garbage, Heating, Cooling) | $199.39 |
| 1 min. of Prepaid Mobile Tariff Local | $0.06 |
| Internet (Unlimited Data, Cable/ADSL) | $26.05 | Average Leisure Prices |
| Fitness Club, Monthly Fee for 1 Adult | $78.32 |
| Tennis Court Rent (1 Hour) | $7.40 |
| Cinema, 1 Seat, International Release | $26.05 | Average Clothing Prices |
| 1 Pair of Jeans (Levis 501 Or Comparable) | $76.59 |
| 1 Summer Dress in a Chain Store (Zara, etc...) | $39.24 |
| 1 Pair of Adidas Walking Shoes (Mid-Range) | $82.65 | Average Rent Prices |
| Apartment (1 bedroom) in City Center | $2333.70 |
| Apartment (1 bedroom) Outside of Center | $1580.30 |
| Apartment (3 bedrooms) in City Center | $4730.87 |
How Does the Average Person Spend Their Money in Hong Kong?
Monthly rent is extremely expensive in Hong Kong which is the reason for an average person to give most of their money to landlords.
The rest of the money is divided unequally to such items as markets, restaurants, shopping, sports and leisure, utilities and transportation.
The expenses for healthcare, education, cleaning, and buying property are not included here.
The least money is spent on clothing and shoes because there are lots of national brands which are really cheap.
People tend to eat out and spend as much as 7.5% of the money on ready-made food in restaurants and cafes.
Average Costs Breakdown
Hong Kong: Average Salary, Minimum Wage & Mortgages
Average net salary in Hong Kong is $2425.57 per employee per month.
This salary is paid for the official working hours from 9 am to 6 pm at most jobs.
Although, many people come earlier in the morning or stay late at work.
Also, some jobs have five and a half working days including Saturday.
The minimum wage in Hong Kong is $821.9 per month.
Hong Kong has about 17 public holidays when it’s also a day off at work.
The mortgage is given to those who have a sustainable income for many years and can prove it officially.
The banks refuse giving mortgages to newcomers, but there are some government organizations who can help with housing loans too.
The interest rate in percentages is 2.47% per annum.
Hong Kong Safety Overview
READ THE FULL REPORT: Hong Kong Safety Review
Safety Index:
- OVERALL RISK: LOW
- TRANSPORT & TAXIS RISK: MEDIUM
- PICKPOCKETS RISK: HIGH
- NATURAL DISASTERS RISK: MEDIUM
- MUGGING RISK: LOW
- TERRORISM RISK: LOW
- SCAMS RISK: HIGH
- WOMEN TRAVELERS RISK: LOW
